ChainSecurity has Completed a Security Audit of the Switcheo Network Project
The full report, including the scope of the audit and considered properties, is available here.
Switcheo is creating a decentralized exchange (DEX) where users can trade Ether and any ERC20 tokens. Before being able to trade on the exchange, users have to deposit their ETH and/or ERC20 tokens to the Switcheo platform. To initiate transactions, users have to first sign the trade data off-chain. This signed data is then sent to Switcheo, which initiates transactions on the DEX on users’ behalf.
ChainSecurity analyzed the Switcheo smart contracts under different aspects, with a variety of tools for automated security analysis of Ethereum smart contracts, including Securify, and manual expert review. Overall, we found that Switcheo employs good coding practices and has a clean code base. Nonetheless, ChainSecurity was able to uncover several security, design, and trust issues that were successfully mitigated or addressed by Switcheo before deployment.
About Switcheo Network
Switcheo Network is the first decentralized exchange on the NEO blockchain which now allows trading of Ethereum and NEO tokens. Switcheo’s goal is to achieve a DEX network with cross-chain swapping capabilities across popular blockchains, with a focus on delivering a world-class trading experience in a trustless and decentralized environment.
Find out more about the project at https://switcheo.network/.
About ChainSecurity
ChainSecurity uses the most advanced tools straight out of the research labs at ETH Zurich, one of the best technical universities, to validate the correctness and uncover vulnerabilities in smart contracts. A thorough expert audit focuses on defining an exact functional specification, proves that it holds using formal verification tools and uncovers security, design and architecture issues in the analyzed code. Crypto projects rely on the detailed public audits by ChainSecurity to ensure top-grade security for their smart contracts and protocols.
Learn more about ChainSecurity at https://chainsecurity.com
